Financial Mail citing Mr Vernon Harvey CFO of Ferrum Crescent as saying that Ferrum Crescent Ltd may delay the first production from its iron ore projects in South Africa’s Limpopo Province as there is no spare rail capacity from the site of its proposed plant in Lephalale to Richards Bay.

The report quoted Mr Harvey as saying that Transnet Freight Rail, South Africa’s rail monopoly, has indicated there will be no spare capacity on the route in the immediate future.

Ferrum’s first production was expected by about 2017, following a feasibility study into developing the projects and a three year construction period,

(Sourced from Bloomberg)